Practice Exercise 3 On August 1, 2017, Blue Spruce Corp. issued $481,200, 7 % , 10-year bonds at face value. Interest is payable annually on August Blue Spruce's year-end is December 31. Prepare a tabular summary record the following events. (a) The issuance of the bonds. (b) The accrual of interest on December 31, 2017. (c) The payment interest on August 1, 2018 (If a transaction causes a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign (or parentheses) front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders Equity Liabilities Assets Retained Earnings = Bonds Pay. Interest Pay. Common Stock - Cash dend Revenue Expense (a) Aug.1, 2017 (b) Dec. 31, 2017 Interest expense , 2018 (c) Aug. Interest expense Click if you would like to Show Work for this question Open Show Work